Day traders' after-market lounge February 29

Thanks afternoon crew.

End-of-day summary:

Aussie shares hit a new high as a final-day reversal sealed a fourth straight monthly advance.

The ASX 200 struggled for the first hour, falling 29 points before the cavalry arrived. By the close, that deficit had been converted into gain of 38 points or 0.5% for the session and 18 points or 0.23% for the month.

Shortly before the close the index hit a new high at 7703.8, two-tenths of a point above the old intraday peak set at the start of the month. The final session of the month often sees increased activity as bonus-chasing institutional buyers seek to put the best possible gloss on portfolios.

Property stocks, gold miners and consumer companies provided some of the day's best returns. Utilities were the only significant drag.

This morning's weakness followed negative US leads, where the risk of bad inflation data tonight pushed some investors to the sidelines. The S&P 500 retreated 0.17%.

The mid-morning reversal here accelerated after data showed retail sales rebounded less than expected last month, handing the Reserve Bank another reason to consider lowering benchmark rates.